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OPEC crunch talks were deadlocked on Friday as Iran was said to reject a symbolic oil-output cut as part of a wider deal with the cartel and its allies.

An agreement remained elusive as the Persian Gulf state insisted on an exemption from production curbs, one delegate said. It stuck in its heels despite attempts by non-OPEC producer Russia to broker a deal, with Energy Minister Alexander Novak shuttling between meetings with the Iranian and Saudi delegations at the organization’s secretariat in Vienna...

from Bloomberg

... Discussions now center on a proposed reduction from OPEC and its allies of about 1 million barrels a day, with OPEC itself shouldering 650,000 barrels of the burden, delegates said. Such a deal remains far from certain after six hours of talks on Thursday concluded with Saudi Energy Minister Khalid Al-Falih saying he wasn’t confident an agreement could be reached...

(from Bloomberg's latest update)

22.2m shares traded so far, looks as if these low price levels may have brought out a little bit of buying.

Many thanks, chitty.

All the best to you and yours, too.

chittybangbang,

On the positive side, the UK market no longer has any gains to surrender, unlike, say, the US market :-)

MMs can short, as part of their function.

They can also execute naked shorts.

Bloomberg's run a headline to the effect that the UK market has lost all of its gains of ... this century!

Costly Financial Disease?

PS: if you had £100m at your disposal and were to invest that sum in UKOG, that might help the share price move towards your target for tomorrow.

Of course you're allowed to post, nobody's suggested otherwise.

Member since ... today.

... In private conversations, delegates said a consensus was emerging around an overall cut, including Russia, of around 1 million barrels a day, although all cautioned the figure wasn’t final...

from latest Bloomberg update on Vienna meeting

Boyzee,

What makes you think there are "many naive pi.s here"?

Personally, I think there may be many experienced PIs on here.

They could hardly do otherwise, could they?

It should be Bouygues (pronounced "Bweeg"), not Bourgues.

I always thought one was supposed to get "into" bed with someone and not "on" bed with that person, ... oh well!

Invesco up from 14.17% to 15.19%.

Threshold crossed 4/12, yesterday.

https://www.bloomberg.com/news/articles/2018-12-05/opec-deal-in-balance-as-saudi-arabia-russia-gather-for-talks?cmpid=BBD120518_CEU&utm_medium=email&utm_source=newsletter&utm_term=181205&utm_campaign=closeeurope

No need to raise cash at the present time.

If they want to raise some cash at some stage, would be advised to wait for the share price to return to a more attractive level.

That GF presentation of Alba very recently was the first time I've heard him suggest Alba's Weald commitments might not form part of the company's permanent portfolio of interests.

... Spare a thought too for package-holidays scion Thomas Cook Group Plc, which has seen its shares hammered recently and is now reportedly having to reassure shareholders it has no plans to raise new equity. Incidentally, it will be one of the names relegated from the FTSE 250 this month.